Top Rice Importer Philippines Sets Rules on Tariff Changes

President Ferdinand Marcos Jr. has set guidelines on planned changes in tariffs for rice to the Philippines, the world’s top importer, starting in 2026.

In an executive order issued on Sunday, Marcos said tariff adjustments based on movements in international prices will go into effect on Jan. 1, after extending 15% rice import tariffs until year-end.

Import duties will be increased by five percentage points for every 5% decline in world rice prices, or lowered by five percentage points for every 5% increase in global prices, according to the order.

“However, the Most Favored Nation rates of duty on rice, ...